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Forex MT4 Accounts

MetaTrader 4 is a well-known trading platform, appreciated by many traders around the world. No need for third-party bridges anymore, now you can use a direct connection to SWFX Swiss Marketplace provided by Dukascopy.

Please note that the trading conditions, list of instruments, swaps are different from the standard FX account, which is opened for trading on JForex platform. The following sections of the page describe trading specifications in details.

Trading Fees

The volume commission rate is determined dynamically and depends on Net Deposit, Equity and Traded Volume according to Dukascopy's Fee Schedule. In addition to the standard fees, $1 per 1 MT4 lot ($10 per $1 million) is charged for trading on MetaTrader 4 platform.

The volume commission on MT4 accounts is calculated for a round turn transaction and is charged on opening trades in the account currency. The volume commission is calculated from the primary amount and converted to the Client Account's Balance Currency. The volume commission rate shown in the table below is expressed in US dollars per 1 lot (100'000 USD).

Net Deposit or Equity (in USD equivalent)

Traded Volume (in USD equivalent)

Volume Commission in USD per 1 round lot

Currencies

XAU/USD

5'000

9

12.5

≥ 5'000

≥ 5 million

8.6

11.9

≥ 10'000

≥ 10 million

8

11

≥ 25'000

≥ 25 million

7

9.5

≥ 50'000

≥ 50 million

5.6

7.4

≥ 250'000

≥ 250 million

5.2

6.8

≥ 500'000

≥ 500 million

5

6.5

≥ 1'000'000

≥ 1 billion

4.8

6.2

≥ 5'000'000

≥ 5 billion

4.4

5.6

≥ 10'000'000

≥ 10 billion

4

5

Margin requirements

MT4 trading accounts are provided with a default leverage of 1:100. The initial margin is calculated at trade initiation, and the amount of Free and Used Margin is updated in real time on the MT4 platform.

Stop Loss or Take Profit orders are rejected and pending oders are not resubmitted by the system if the execution of these orders leads to the breach of the maximum net exposure limits.

Dukascopy Bank reserves the right to amend margin requirements and exposure limits at its entire discretion, without prior notice.

Margin Level and Margin Cut Policy

Margin Level is an indicator showing the amount of available margin to maintain open positions on the trading account. It is displayed in percentage in real-time and calculated as follows:

Margin Level

=

Equity

Used margin

×

100%

Metatrader 4 trading system constantly controls the margin level of all open positions in real-time and automatically liquidates positions when Margin Level falls below a predefined value.

Margin Level

Description

> 100%

Normal status

≤ 100%

Margin call: The account is in warning status.

≤ 50%

Stop Out: The most unprofitable positions are automatically closed untill the margin level is recovered back above 50% level.

Overnight Policy

The overnight policy for MT4 accounts is set to Regular policy applied for FX accounts.

The swap amount is calculated automatically at the end of every trading day. For Wednesday to Thursday rollover, the swap is deducted/added in a triple size. For USD/CAD, the swaps are tripled from Thursday to Friday. However, the exact calculation may be different depending on currency settlement holidays.

Please note that swap-free-accounts are not supported for MT4 accounts.

Please beware that on certain calendar days, multiple swaps must be applied and that consequently, your own calculation of applicable swap points may differ from swap points charged or credited to your account. If in doubt, please contact the Trading Support Desk.

Trading Notices

Please read important notices about MetaTrader4 trading.

Online Reports

In addition to the account history that is available in MetaTrader 4 platform, Dukascopy provides clients with Online Reports. We recommend consulting online reports periodically for historical or the most up-to-date account statements.
As Dukascopy Online Reports are the main financial statement of your account, we highly recommend you to monitor on a regular basis the synchronisation between MetaTrader 4 and Dukascopy Online Reports and to inform Dukascopy of any discrepancy you may notice, as soon as reasonably practicable.

MT4 Balance vs End-of-Day Balance

Note that the balances in MetaTrader 4 and Online Reports may differ. The balance in MetaTrader 4 platform includes P/L from closed positions only and changes every time when an order is closed while the balance in Online Reports represents an end-of-day balance that consists of both closed and open P/L evaluated at the settlement time. Please also note that the two balances do not match unless all open positions are closed on the platform.

SLIPPAGE

In the case of stop and market orders, the requested price is not guaranteed. Orders are executed at the first available price and slippage can occur whenever a sharp price is seen in the market. Entry orders may be rejected without resubmission if the result would be an execution with excessive slippage.

Rejection Messages

In case an order is rejected due to various reasons (no liquidity, off-market price, or max net exposure being reached), MT4 platform returns the same standard message — [Trading is disabled].

Partial Fills

Partial execution may occur on both opening and closing orders due to low liquidity or when the maximum net exposure on the instrument is reached. When an order is closed partially, a new order ticket is created automatically with the remaining amount of the order and the same levels of Stop Loss and Take Profit, if any. Please note that the comment field is overridden on both the original and child order.

No Close By

Note that Dukascopy is not supporting Close By functionality due to technical limitations.

No Equity Stop Loss

Note that MetaTrader 4 accounts do not have Equity Stop Loss functionality allowing you to automatically liquidate all positions if the account equity falls below a specified level.

No Over-the-weekend Leverage

There is no automatic over-the-weekend leverage reduction applied before the weekend like on standard FX accounts. Clients willing to reduce the exposure before the weekend, should close and adjust trades manually.

Password Reset

Password reset feature for both master and investor (read-only) passwords is disabled in MetaTrader 4 platform. To reset the master password, you should use Online Reports. To reset the investor (read-only) password, please contact Support Team.

MT4 Server Time

MT4 server time is set to GMT+3/GMT+2 (summer/winter time) to match with the end of trading day in the US (New York 5 p.m. EST). As a result, when trading ends in New York at 5 p.m., the daily candle closes in Metatrader 4. This time also corresponds to the time when swaps are applied to open positions.

Risk disclosure

Trading on margin carries a high level of risk, and may not be suitable for all investors. It is highly recommended to maintain the Use of Leverage at normal levels. The client must always keep in mind that leverage increases potential loss, as well as potential profit, and invested funds can quickly suffer losses in situations where the market prices exhibit strong volatility, potentially creating an adverse environment for the highly leveraged participant. The client shall be solely responsible for maintaining sufficient margin in relation to the existing positions.

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